These key minerals also fetched US$70.6m in 2007, representing 40 percent of the total national exports revenues. The mining sector’s share of the Gross Domestic Product (GDP) is also estimated at 10 percent.

This means that the sector is a growing, dynamic and promising industry as a major export contributor and job creator for Rwanda.

Over 50,000 jobs were created and earnings were expected at US$100m in 2007, a figure that was projected for 2011. However, Karega disclosed that surveys have also discovered other precious stones and minerals that are yet to be exploited.

Some of these include tourmaline, sapphire, topaz, corundum, chiastolite, amethyst, opal, agate and flint. He said the government is trying to attract investors to exploit these minerals in order to bolster the industry.

Surveys also indicated that the biggest part of Rwanda lies under the so called Kibaran Belt Rocks that are known to contain minerals.

The Kibaran Belt Rocks extends from Northern Tanzania, through South Western Uganda, underlying almost the whole of Rwanda and Burundi, then through South Eastern DR Congo up to Angola.

This comes at a time when the International Finance Corporation (IFC), the private sector arm of the World Bank Group is set to invest in Rwanda’s mining industry.

Ignance Bacyaha, IFC’s Senior Operations Manager recently said that the corporation last year conducted a study on the mining industry in Rwanda and that the study revealed needs for investment and advisory services in the sector.

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